Press

CUTEK creates COVID-19 member aid package for credit unions

BOERNE, TX (March 31, 2020) — In these uncertain days as the coronavirus escalates and the economy slows, CUTEK, a nationwide provider of IT products/services for credit unions, has bundled many of its products to create a unique Member Aid Package. This discounted package looks to help credit unions better serve members impacted by the COVID-19 outbreak by offering specific product arrangements when members need financial relief.

CUTEK’s Member Aid Package offers credit unions three modules:

1. Loan Modification Workflow — assists in offering members lower loan payments or rates on existing loans
2. Skip-A-Pay program — includes a batch SAP, as well as SSO for home banking
3. ATM Foreign Fee Reversal program

From a high level, this package supports temporarily reducing monthly loan payments and interest rates for credit union members. It also has the means to extend loan payments (SAP). Additionally, if there is the need to reverse ATM fees for specific date range, it supports that as well.

Another unique feature of this package is the built-in batch processing for skip-a-pay. No other skip-a-pay on the market today has a batch processing feature.

Benefits of this package to credit unions and their members include:

1. - Reduction in staff effort
  - System vs staff managed
  - Reduce loan defaults
  - Member retention
  - Credit Score protection

In addition to its custom programming services for Symitar’s Episys core, CUTEK has the resources and expertise to help credit unions incorporate a staff remote work program during this time of social distancing.

“Sometimes your members may need a helping hand, for whatever reason, perhaps an unforeseen circumstance causing financial hardship,” states CUTEK Vice President of Sales and Client Relations Dawn Murray. “Whatever the reason, CUTEK is always looking for proven solutions to ensure our credit unions can continue to do what they do best – provide excellent member service to their membership in the good and sometimes not so best times.”

CUTEK Vice President of Sales and Client Relations Dawn Murray and Marcel from the hit TV sitcom
Friends

About CUTEK

Based in Boerne, TX, CUTEK offers IT consulting, programming, and products for credit unions nationwide – along with unparalleled Symitar® Episys® experience. For more information, visit www.cutek.com